NPCI announces the launch of BHIM App licensing model
By Leandra Monteiro
In a step ahead towards attaining the goal of ‘Digital Payments for All’, National Payments Corporation of India (NPCI) has announced the launch of BHIM App open source license model under which the source code of BHIM App will be licensed to regulated entities participating in UPI ecosystem, who do not have UPI app of their own, to empower them to launch their own UPI app.
Presently, many banks do not have their own mobile banking app and are missing out on extending the benefits of the country’s largest retail payment system – UPI, to their customer base. NPCI intends to bridge this gap by extending all the readily available features of UPI to these entities through this BHIM App licensing model which will be an economical and quick-to-market solution for these entities. Further, under this model new features that get launched on BHIM App in the future, will also be extended to these entities for them to continue accessing BHIM app’s latest features.
National Payments Corporation of India (NPCI) was incorporated in 2008 as an umbrella organisation for operating retail payments and settlement systems in India. An initiative of RBI and IBA under the provisions of the Payment and Settlement Systems Act, 2007, NPCI was initiated for creating a robust payment and settlement infrastructure in the country.
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